GAO Standards - Yellow Book   Updated

Thorough, comprehensive coverage of the topic is accentuated with easy-to-comprehend explanations of all types of government audits, including performance audits and financial audits. The most recent applicable GAO Yellow Book standards for government audits are effective for financial audits, attestation engagements, and reviews of financial statements for periods ending on or after December 15, 2025 and for performance audits for audits beginning on or after December 15, 2025. Early adoption is permitted. The 2024 revision provides enhancements that strengthen an audit organization's framework for conducting high-quality government audits through its system of quality management. The revision also changes the approach from quality control to quality management, provides a flexible approach for audit organizations that are required to use GAGAS and the quality management standards of other standard setters, promotes proactive and effective monitoring activities, provides for the optional use of engagement quality reviews, and applies guidance on key audit matters.